Celebrity chef Rick Stein is set to close his Marlborough restaurant this weekend, marking the second closure in a week as his family’s hospitality group struggles with mounting financial difficulties.
The restaurant, located on Marlborough High Street and open for nearly a decade, will serve its final meals on Sunday, October 5. The decision follows the closure of Stein’s Coffee Shop in Padstow, Cornwall, where three staff members have been redeployed to other venues within the group.
In a statement signed by Stein, his wife Jill, and their sons Ed, Jack, and Charlie, the family said the Marlborough site was “no longer viable” and thanked employees for their “passion, hard work and dedication.” They confirmed that customers holding gift cards would still be able to use them at other Rick Stein locations.
The Stein Group, which operates restaurants, hotels, shops, a cookery school, and an online store, has been hit by a combination of falling sales and rising costs. Latest accounts show group revenues dropped 5.4% to £30.4 million last year, while losses deepened. At Stein’s flagship venue, The Seafood Restaurant in Padstow, pre-tax losses widened to £459,000.
Rick Stein has publicly criticised government tax policy for exacerbating the sector’s financial strain. He has pointed to recent increases in employer national insurance contributions and other levies introduced by Chancellor Rachel Reeves as significant burdens on the hospitality industry. “Because the economy is not looking too good, people aren’t going out as much,” Stein said in a recent interview. “The one thing you don’t want to do is impose a heavy tax on industries that are actually producing things.”
Over the past five decades, Stein’s presence has transformed Padstow into a renowned culinary and tourist destination. His 13 venues in the Cornish town have boosted local employment and visitor numbers, but they have also drawn criticism from residents who say the “Padstein” brand has driven up property prices and made the area overly dependent on tourism. Average house prices in Padstow now exceed £750,000—higher than in many parts of London.
The closures reflect broader challenges across Britain’s restaurant and leisure sectors, which continue to face weak consumer spending and soaring operating costs. Industry bodies have warned that Labour’s proposed business rate reforms and potential tax increases could trigger further closures without additional government support.
In their statement, the Stein family said they had “loved being part of the Marlborough community” but that “difficult decisions are necessary to protect the long-term future of the wider group.”
